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The public is beginning to suspect that the government's rush to bring a Covid-19 vaccine to market is a money grab by big Pharma.
Just a day after announcing Pfizer's Covid-19 vaccine is more than 90% effective in preventing the coronavirus, company CEO Albert Bourla sold 62% of his stock.
The company's claim of 90% efficacy for its vaccine was not independently verified.
The large stock sale sparked allegations of a "pump and dump" insider trading scheme to earn maximum profit by releasing favorable information about a stock before dumping the stock on the open market.
The SEC Form 4 filing obtained by Axios.com shows Bourla sold 132,508 shares at an average price of $41.94 per share, equivalent to $5.6 million.
A Pfizer spokesperson told Axios that the CEO's stock trade was planned in August and the trade was executed on Tuesday.
Other pharmaceutical companies developing vaccines such as Moderna, also made similar stock sales after announcing favorable news about their vaccines.
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President Trump sparked a frenzy on Twitter.com when he proposed a delay in the Nov. 3 election over fears of mail-in voting fraud.
"With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history," Trump tweeted on Friday morning. "It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???"
The president's tweet triggered a 490-point drop in the stock market amid concerns that the president is attempting to delay the election.
Political analysts say a president can't delay the election unless he gets the approval of Congress.
But Trump's supporters say he is trolling his Twitter followers, as usual.
Democrats expressed fears that Trump is setting himself as a dictator who will refuse to leave the White House if he loses in November.
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White House coronavirus task force member Dr. Ben Carson says Black people continue to be hardest hit among the most populated cities ahead of the "second wave" of coronavirus infections in the fall.
Carson said the crisis has helped reveal issues of disparity among Black people in the country and that it needs to be approached in a "holistic manner" as the so-called coronavirus "second wave" hits America in the fall.
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Blacks have been hardest hit due to the lack of affordable healthcare insurance and the tendency to lead unhealthy lifestyles.
"This crisis has really shined the light on this disparity issue," Carson said. "We've known about this obviously for decades and people have talked about it and signed on it. We haven't made a lot of progress."
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In unrelated news, Dr. Carson reportedly sold $1 million in stock after a coronavirus meeting on Capitol Hill in March.
The HUD secretary reportedly sold $1 million in Kellogg stock on March 18, likely to avoid a huge financial loss before a volatile Wall Market plunge in March.
Carson served as Kellogg director from 1997 to 2015. He received the stock as part of his benefits package with Kellogg.
Carson disclosed the sale in a transaction form he filed with the U.S. Office of Government Ethics on April 20. Typically, public officials are supposed to disclose such sales within 30 days.
North Carolina Senator Richard Burr stepped down as chairman of the Senate Intelligence Committee after he allegedly sold stocks to avoid huge financial losses amid the coronavirus outbreak.
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NC Senator Richard Burr has agreed to step down as chairman of the Senate Intelligence Committee after he allegedly sold stocks to avoid huge financial losses amid the coronavirus outbreak.
Burr faces allegations of insider trading, which is punishable by prison time and stiff fines.
Burr, a member of the Republican Party, is the first to step down after a handful of GOP and Democrat lawmakers were accused of selling stocks during the early stages of the coronavirus pandemic in March.
The list of senators under investigation include Georgia Senator Kelly Loeffler (GOP), Calif. Sen. Dianne Feinstein (Democrat), and Oklahoma Senator Jim Inhofe (GOP).
The news comes after Burr was served with a warrant to search his cellphone on Wednesday after previously being served with a warrant to access his iCloud account.
Burr and his wife are accused of selling $1.7 million worth of stocks to avoid huge losses before the country was ordered to shut down.
Burr's brother was also accused of selling stocks on the same day.
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